EHang Holdings Limited

Thank you for standing by and welcome to the EHANG first quarter 2022 earnings conference call. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Ms. Julia Kan. Please go ahead.

Hello, everyone. Thank you all for joining us on today's conference call to discuss the company's financial results for the first quarter of 2022. The earnings release is available on AIA website as well as from Newswire Services. Please note the conference call is being recorded and the audio play will be posted on the company's AIA website. Today, Yihang's management team, which includes Mr. Hu Huazhi, Chief Executive Officer, Mr. Edward Shi, Chief Strategy Officer, Mr. Xin Fang, Chief Operating Officer, and Mr. Richard Liu, Chief Financial Officer, were successfully giving prepared remarks. Remarks delivered in Chinese will be followed by the English translations. All translation is for convenience purpose only. In the case of any discrepancy, management's statement in the original language will prevail. A Q&A session will follow afterwards. Before we continue, please note that today's discussion will contain forward-looking statements made in pursuit to the safe harbor provision of the U.S. Private Security Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. Further information regarding these and other risks and uncertainties is included in the company's public filing with the SEC. The company does not assume any obligation to update any forward-looking statements except as required under ACABU law. Also, please note that all the numbers presented are in RMB and are for the first quarter of 2022 unless stated otherwise. With that, Let me now turn the call over to the CEO, Mr. Hu Huazi. Please go ahead, Mr. Hu.

Thank you, Julia. Hello, everyone. Thank you for attending the phone call meeting of E-science. Since the first quarter of 2022, the external impact and uncertainty caused by the pandemic and the prevention and control measures of the international situation have become more and more stable. Therefore, we are more focused on In the path of self-development, we have come to a good start, mainly reflected in the power to promote market certification, key talent absorption, and market opening. First of all, in terms of market approval, this is still the first priority of the company's current development. As the world's first self-driving self-driving aircraft designer, developer, and manufacturer, we can't help but face the world's attention and expectation, as well as the supervision of the strictest standards and challenges. This is the pressure that the pioneers of a innovative industry will bear, and it is also our continuous challenge and breakthrough of our own power. After a long 10-month in-depth communication and cooperation with the China Civil Aviation Bureau review team and the China Civil Aviation Bureau, in February this year, the China Civil Aviation Bureau officially passed and announced the special conditions for the E-216S unmanned aerial vehicle system. has set an important milestone for our market audit work, and has also become a pioneering milestone in the development process of this innovative industry. Unlike other airlines that have pilots driving, Yi Hang's products are advanced and innovative in unmanned driving technology and operation mode, and bring more new challenges in the field of data chain, complex system and software compatibility verification. Our technical team We will continue to explore and improve the appropriate methods. Our specialized audit plan is about to be approved by the Chinese Civil Aviation Bureau. The audit project node, audit basis, appropriate methods, verification test plan, post-evaluation management, and other content are agreed to promote the audit work of the market as soon as possible. In terms of production manufacturing, On the basis of the international air quality management system certification of AS9100D, we are following the production approval and supervision procedures of the Chinese Civil Aviation Bureau to further improve our quality, craftsmanship, production, and supply chain system based on model certification and production certification. At the same time, we have completed the verification machine used for manufacturing compatibility verification. We are working closely with the Chinese Civil Aviation Bureau to overcome the impact of many factors such as domestic We are very happy that Mr. Fang Xin, our chief operator, joined us in February this year. He is in charge of the daily business and business development of the company. Mr. Fang has more than 20 years of rich experience in business management, technology product solution and sales, travel project development and operation. He will bring new momentum to the bank. Recently, we also hired a new production vice president. The participation of Mr. Zhang Jiangke will lead the team to improve the production and manufacturing system of Yihang to a more mature and perfect industry leading level. Mr. Zhang has more than 20 years of aircraft manufacturing experience. He is the technical manager of China's first CCAR-23 all-in-one aircraft manufacturing and CCAR-25 large-scale amphibious two-stage aircraft deputy engineer. He used to work for the JEE All-Infrared Electronics Co., Ltd. Thank you, Julia. Hello, everyone. Thank you for joining our earnings call today.